Font Size

- Aa +

Mon 16 Apr 2012 02:52 PM

Font Size

- Aa +

Emirates won't rule out Indian carrier investment

Carrier not currently in talks but always interested in "anything to do with aviation"

Emirates won't rule out Indian carrier investment
“Anything to do with the aviation, if it’s at the right price, we always look at it.”

Emirates Airline, the Dubai-owned carrier, said it would consider investing in an Indian operator as the south Asian nation moves toward easing ownership rules.

“Anything to do with the aviation, if it’s at the right price, we always look at it,” chairman Ahmed Bin Saeed Al Maktoum told reporters today in Abu Dhabi at an aviation conference. Still, the carrier isn’t involved in any talks and has no specific plans, he said.

Qatar Airways and Abu Dhabi-based Etihad Airways have also said they may consider India deals as economic growth stokes travel demand in the world’s second-most populous country.

Carriers including unprofitable Kingfisher Airlines have said they are seeking investment as they struggle with price wars and higher fuel prices.

The Indian cabinet will soon decide whether to let overseas airlines buy stakes of as much as 49 percent of local carriers, Aviation Minister Ajit Singh said last week.

The proposal, which has been under discussion for at least three years, won preliminary approval from a ministerial panel in January. Non-airline investors from overseas are already able to buy 49 percent stakes.

For all the latest transport news from the UAE and Gulf countries, follow us on Twitter and Linkedin, like us on Facebook and subscribe to our YouTube page, which is updated daily.